Systems, program products, and methods of enhancing financial budgeting of an organization

Abstract

Systems, program products, and methods to enhance financial budgeting of an organization having several departments are provided. A minimum budget assignor assigns to one of several departments a minimum budget amount of money. A strategy creator creates strategies for the department and a strategy assignor assigns a priority ranking determined by the department to each of the several of strategies to define several prioritized strategies. A strategy assignor assigns a priority ranking determined by the department to each of the strategies to define several prioritized strategies. A supplemental budget requestor submits several supplemental budget requests for the several prioritized strategies for a requested supplemental amount of money for each of the several supplemental budget requests of the department for review and approval by the organization. A supplemental budget assignor assigns to the department a supplemental budget amount of money determined by the organization for at least some of the several prioritized strategies.

Description

BACKGROUND OF THE INVENTION [0001] 1. Field of the Invention [0002] The present invention relates generally to financial systems, program products, data structures, and methods and, more particuarly, to enhancing financial budgeting of an organization. [0003] 2. Description of Related Art [0004] In organizations, such as educational institutions, it can be desired to discern the financial condition of the organization, including discerning the amount of money available for a future fiscal term, and then systematically allocating the money in the most sensible manner to departments of the organization to best achieve the goals and priorities of the organization. For example, a school district may have to distribute a finite amount of money to a number of school campuses under the jurisdiction of the school district. The school district, as well as each individual school campus, has a number of goals and priorities that may at times be unique to the conditions of the particular school...

AI Technical Summary

Benefits of technology

[0007] In view of the foregoing, embodiments of the present invention advantageously provide enhanced systems, program products, data structures, and methods of enhancing financial budgeting for an organization having a number of departments. The systems, program products, data structures, and methods have advantages and benefits of creating efficiencies which reduce the waste of time and financial resources. The invention advantageously redirects financial resources between an organization and its various departments to meet the goals and priorities of the organization. The invention also advantageously assists the organization in planning, as well as submission of its goals, objectives, and strategies to various governmental agencies. Through the combined budgeting and planning process, schools produce their required campus improvement plans for their benefit as well as for the benefit of the governmental agency to which the plans are submitted. The invention offers additional benefits of providing financial accountability for each budget item that is funded by measuring strategies and results to thereby allocate and utilize funds in the most efficient and successful manner.

Problems solved by technology

The prior methods did not associate the amount of money allocated with the goals, objectives, and strategies of the school campus or school district at large, and therefore, no measures of accountability existed to expect or demand that the money be utilized in such a fashion to best achieve the goals and priorities of the organization and departments.

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